Below is an extract of a post published on Guardian titled "Trump's trade policy is a hot mess of conflicting goals – with few winners | Jeffrey Frankel"
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Make america great again.- Donald Trump.
What counts is not necessarily the size of the dog in the fight. It's the size of the fight in the dog.- Dwight D. Eisenhower.
The best executive is the one who has sense enough to pick good men to do what wants done, and self-restraint to keep from meddling with them while they do it.- Theodore Roosevelt.
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Via: Guardian
Tariffs war with China has hurt almost every segment of the US economy Earlier this month, the US President, Donald Trump, suddenly revealed that a trade agreement between the US and China was not imminent after all. On the contrary, on May 10 the Trump administration raised its previous 10% tariff on $200bn worth of Chinese goods to 25% and threatened to apply the same rate to the remaining $300bn or so of US imports from China by late June. China then retaliated with reciprocal tariffs on $60bn worth of US exports, effective June 1. Surprised stock markets fell in response, with the S&P 500 down 4% over the first week of the renewed trade war. US trade policy is a hot mess of conflicting goals. Given the current impasse in talks with China, and Trump’s general unpredictability, the inconsistencies of US trade policy – and their costs – are unlikely to go away soon. Related: Could the US-China trade row become a global cold war? | Nouriel Roubini To say that both countries gain overall from trade is not to claim that every citizen of each country benefits Continue reading…
